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NAEBA warns private listings test Real Estate agents' fiduciary duty to homebuyers. National Association of Exclusive Buyer Agents responds to Realtor.com CEO's warning that hidden listing data, private listings, and reduced transparency threaten consumer protections. PHOENIX, AZ - July 15, 2026 - The National Association of Exclusive Buyer Agents (NAEBA) is warning homebuyers that the growth of private listings, pocket listings, and limited access to property data raises serious questions about fiduciary duty in real estate transactions. The warning follows comments from Realtor.com CEO Damian Eales, who spoke at the National Association of Realtors' MLS Forum in Washington, D.C., according to a June 24, 2026, Real Estate News article by Andrea V. Brambila. Eales said the real estate industry faces a "right side of history" test over whether it supports cooperation, open markets, transparency, and fair treatment of consumers. Eales also said agents' fiduciary duty is "being tested" as some listing practices limit access to property information, including days on market and price reductions. Quick facts about limited property information. * The issue: Private listings and fragmented listing data may limit what homebuyers can see and what they know before making an offer. * The fiduciary concern: Realtor.com CEO Damian Eales said real estate agents' fiduciary duty is "being tested" as the industry debates private listings and reduced access to information. * The consumer risk: Homebuyers may be placed at a disadvantage when property details, listing history, price reductions, or days on market are not fully available. The lack of transparency exacerbates affordable housing issues when home-buying consumers overpay due to limited property information. * NAEBA's position: Exclusive Buyer Agents owe fiduciary duties only to homebuyers and never represent sellers, accept listings, or advertise properties for sale. * Why it matters: A buyer's agent should work solely to protect the buyer's interests, not the listing inventory or business model of a brokerage. Fiduciary duty means loyalty to the client. NAEBA said the debate over private listings is not only about technology, marketing, or brokerage strategy. It is about whether real estate professionals put consumers' interests first. "True fiduciary duty is more than a buzzword," said Benjamin Clark, owner of Salt Lake City, Utah-based Homebuyer Representation, Inc., and president of NAEBA. "It is a legal and ethical obligation to put the client's interests first. When buyers are denied access to complete listing information, they may not be able to make fully informed decisions. That lack of transparency should concern everyone in the real estate industry." Eales told MLS Forum attendees that the industry must decide whether it is "pro-cooperation," "pro-open markets," "pro-transparency," and committed to ensuring that buyers and sellers are treated fairly, according to Real Estate News. NAEBA said those principles are central to the exclusive buyer agency model. Private listings can create an information imbalance. According to Real Estate News, Eales praised the U.S. multiple listing service system for helping "end asymmetry of information" and ensuring that consumers benefit "on equal terms." He warned that the market is moving toward a system in which information is not shared and only some people have the information needed to value a home properly. NAEBA said that kind of information imbalance can be especially harmful to homebuyers, who are often making the largest financial decision of their lives. "When listing information is restricted, buyers may not know what they are missing," said Mike Crowley, owner of Spokane Home Buyers in Spokane, Washington, and a NAEBA board member. "A buyer cannot fairly evaluate a property without access to relevant facts, including listing history, price changes, days on market, comparable sales, and known property concerns. An Exclusive Buyer Agent's job is to help the buyer uncover and understand that information." Exclusive Buyer Agents avoid conflicts of interest. NAEBA is a professional organization of real estate buyer agents and buyer brokers who only represent homebuyers. NAEBA members do not accept listings, advertise properties for sale, or represent sellers at any time. By providing exclusive fiduciary duties to homebuyers, NAEBA members avoid the conflicts of interest that can arise when the same firm represents both buyers and sellers. "The cleanest way to protect a buyer's fiduciary relationship is to remove the seller-side conflict entirely," said Victoria Henderson, owner of Bethesda, Maryland-based HomeBuyer Brokerage and an NAEBA board member. "Exclusive Buyer Agents do not have listings to protect or promote. They do not represent sellers. Their loyalty is to the buyer-client only." NAEBA was created to protect buyer-clients. NAEBA was formed in the mid-1990s after industry lobbyists redefined how agency worked in real estate. The creation of dual agency allowed traditional real estate brokerages to collect commissions from both the buying and selling sides of a transaction, and NAEBA says it left many homebuyers at a serious disadvantage. NAEBA was created to fill that void and to provide a professional association dedicated to advancing the standards and ethics of fiduciary duty to buyer-clients. "Dual agency changed the way many consumers experience real estate representation," Clark said. "NAEBA exists because homebuyers deserve an advocate who is not divided, compromised, or influenced by the interests of the seller." Exclusive Buyer Agents have been recommended by the federal Department of Housing and Urban Development (HUD), Kiplinger, Consumer Reports, the Consumer Federation of America, NerdWallet, and other entities and publications, according to NAEBA. Questions homebuyers should ask before hiring an agent. NAEBA encourages homebuyers to ask direct questions before choosing a real estate agent, including: * Do you represent buyers only? * Do you or your firm ever represent sellers? * Do you take listings or advertise homes for sale? * Could you or your brokerage earn compensation from both sides of the same transaction? * Will you review listing history, price reductions, days on market, comparable sales, disclosures, and other information that may affect my decision? * Will you owe me full fiduciary duties throughout the home-buying process? Eales warned the industry to be careful when reduced consumer protection is rebranded as "seller choice," according to Real Estate News. NAEBA said homebuyers should be equally careful when selecting representation. "Homebuyers should not assume every real estate agent has the same duties, loyalties, or conflicts," Henderson said. "Before buyers share financial information, tour homes, or make an offer, they should understand exactly who the agent represents." About the National Association of Exclusive Buyer Agents. The National Association of Exclusive Buyer Agents (NAEBA) is a professional organization of real estate buyer agents and buyer brokers who only represent homebuyers. NAEBA members do not accept listings, advertise properties for sale, or represent sellers at any time. By providing exclusive fiduciary duties to homebuyers, NAEBA members avoid the conflicts of interest that arise when the same firm attempts to represent both buyers and sellers. NAEBA promotes the standards, ethics, and consumer protections of exclusive buyer agency. Latest press releases. May 21, 2026 Apr 6, 2026 Mar 21, 2026 Mar 14, 2026 Mar 4, 2026

Schneider to head industrial relations at Realtor.com July 02, 2026 by Greg Spencer

Grupe Real Estate to close single-family resale division after more than five decades. Grupe Real Estate is closing its single-family resale division after more than 50 years serving homebuyers and sellers in the Stockton area. The firm has been a prominent name in the local housing market and is associated with communities such as Brookside Estates, Quail Lakes and Lincoln Village West. Founder Fritz Grupe said the closure applies only to the resale brokerage and will not affect any residential, commercial or office properties and development projects by its parent organization, The Grupe Company. "There are so many people that we not only handle their home sales, but their children and their grandchildren," Grupe told Stocktonia. "When you're in business over 50 years, you cover a lot of families." Grupe said the president and managing partner of the resale division, Jerry Abbott, decided he was ready to close the chapter as he approaches his 90th birthday. Grupe, supportive of the move, said he and Abbott notified approximately 85 agents across the brokerage's Stockton, Lodi and Rio Vista offices shortly after the decision was made about a month ago. Most agents are going to work for PMZ Real Estate, he said. "The two of us explained it all to them. It wasn't a secret," Grupe said. "We told them right off the bat." At age 28, Grupe developed his first residential community, Lincoln Village West. After beginning his career as a real estate salesman, he founded The Grupe Company with his wife, Phyllis, in 1966 and later launched Grupe Real Estate in 1973. The firm's ties throughout the valley run deep, from helping generations of families buy and sell their homes to employing multiple generations of local families across its offices. Grupe said feedback about the division's closure has been overwhelmingly positive, with people showing appreciation for the firm's work. Stockton City Councilmember Michael Blower's relationship with Grupe extend beyond the merger of his own company to Grupe Real Estate in 2014. His father Bob, he said, was the first employee hired by Grupe and sales manager John Binkle in 1973, during the development of Lincoln Village West. "It's a business I've been around my whole life," said the councilmember, who was five years old when his father began working for Grupe's firm. "I was pretty sad to see it close, but I understand." When Blower merged his own company, Blower Realtors, with Grupe Real Estate, he brought his team into the brokerage. Over the years, Blower held several leadership roles including sales manager, vice president and president. As he became more active in local politics, he said, he gradually stepped back from management duties and focused solely on sales. He confirmed most agents are transitioning to PMZ, a move he said is important for maintaining continuity among the group. "Grupe Real Estate was a really special place to work," Blower said. "It was very much like a family." Grupe told Stocktonia the resale division was never about "getting his name out there," but about delivering strong service and staying profitable, with a focus on hiring top-tier agents. Grupe explained that an emphasis on recruiting strong agents has been vital to the firm's success, building trust and respect in the community while guiding clients through major decisions like buying or selling a home. "Our agents have always been top-of-the-line type of people that we've been very proud of," Grupe said. "The people who have run Grupe Real Estate have done an excellent job." In recent years, Grupe said he's spent more time on his 1,300-acre ranch in Lodi, where four generations of his family live, while also focusing on The Grupe Company's other operations and his interest in agriculture.